The gap between the rich and the poor is increasingly wide, as poor people become poorer and rich people become richer. What problems could this situations casue??what are the solutions to address those problems??

In the modern era, it is widely acknowledged that the gulf between the rich and the poor is widening gradually around the globe. Owing to

this

phenomenon, people who already possess a lot of wealth are becoming more affluent and people who do not own capital are becoming penniless.

This

essay will talk about some notable problems arising from

this

situation and some appropriate immediate measures that can be taken to cope with these issues.

To begin

with, the most crucial problem that takes root from

this

situation is the inequitable distribution of wealth among different strata of society. The economic and financial disparity stems from

this

position, as money is being accumulated in the hands of the affluent,

consequently

, increasing poverty in the community.

For instance

,

according to

research conducted by Harvard Business School, approximately eighty per cent of the world's total wealth is owned by the top ten per cent of the earth's population.

Moreover

,

this

predicament is

further

exacerbated by another considerable issue that engenders envy and resentment in the hearts of the destitute for the rich of the community.

This

can lead to socioeconomic chaos and devastation with concomitant ills like increasing crime rates and violence.

Nevertheless

, the most pertinent solution to the above-mentioned problems is enhancing the equitable distribution of not only resources but opportunities to the lower and middle strata. The states and governments should tax the rich and distribute that money among the deprived.

This

will create equality of opportunity among people belonging to different classes.

For example

, the poor could be provided with education facilities in order to improve their professional and technical skills so that they are on par with wealthy folks to earn more money for themselves.

This

will aid to increase solidarity among various socioeconomic classes.

To conclude

, it is a widespread opinion that the rich are becoming richer and the poor are becoming poorer day by day.

This

essay discussed some noteworthy problems arising from

this

phenomenon like economic disparity, burgeoning poverty and rising crime rates.

On the other hand

, it

also

discoursed some appropriate measures to tackle

this

situation

such

as the provision of opportunities, amenities and free education to the impecunious

along with

taxing wealthy folks.